WA’s top company bosses shared more than $70 million in stock rewards last financial year, with most also pocketing up to $1m in cash bonuses.
To be published tomorrow, The West Australian’s annual review of disclosed pay packets across the State’s top-100 listed companies and not-for-profits found more than 60 executives collected more than $1m in remuneration for the latest reporting period.
Some 15 pocketed $1m in fixed pay alone. And for the first time, a non-executive WA company chairman — Fortescue Metals Group’s Mark Barnaba — also received more than $1m.
Despite the constraints of COVID-19 that saw some Australian bosses forgoing pay, WA’s booming mining sector ensured that most of the executives still received a pay rise for the year.
And while more companies are favouring stock bonuses that reward longer-term performance, nearly 50 of the $1m-plus earners were paid a short-term cash bonus.
Fortescue Metals Group chief executive Elizabeth Gaines was the biggest beneficiary, rewarded with a $1.04m cash bonus as FMG reaped a hefty profit rise on the back on buoyant Chinese demand for Pilbara iron ore.
See the full list of our best-paid executives — and what they took home — in tomorrow’s The West Australian and online at thewest.com.au